First a quick note before we dive into the Sunnyvale real estate market trends and statistics. A lot has changed since the start of March and it will likely be a while before we see can see the full impact of coronavirus on the data in these charts. To read more about how the pandemic is affecting the real estate market, please read my post: Coronavirus impact on real estate sales.

During the shutdown so far, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory for those past months, but not current data.

Just now I pulled the October sales of single family homes for the Sunnyvale real estate market trends & statistics. In that time there were 61 single family homes (mostly houses, but possibly duet homes) that closed escrow. The range in sale price was from $1,075,000 to $2,720,000 (30 sold at $2 mil or higher). For this Sunnyvale group:

  • the average list price came in at $1,868,349
  • average sale price was $1,976,087 – over $107K more!
  • average age 59 years
  • average square footage 1,675 SF
  • average lot size 7,357 SF
  • average days on market 15
  • average price per SF for all 61 houses: $1,218.14 (up from $1,129.75 the month before)

Not all homes sold $107K over list price, however. Here’s a bit more data on that part of the Sunnyvale housing market.

There were 45 homes (out of 61, or roughly 74%) which sold in 14 days or less. Of those hot listings, the average list price was $1,874,856 and average sale price $2,027,467, that’s over $152K more! Home size average 1,658 SF and lot size average 7,486 SF, so slightly smaller homes on slightly larger lots compared to the whole. It seems that if the home sells quickly, in two weeks or less, the odds are better for a higher sale. Price per SF for the fast sales group: $1,268.50, or $50.36/SqFt over the total market average.

If we focus on just the slower 15 days or more to sell homes, the numbers are all bleaker for sellers and better for buyers. Among those 16 sales, 5 sold above list price, none sold at list price, and 11 sold under asking. Their average list price (may include price reductions) was $1,850,048, and average sale price was $1,831,582 or over $18K below list price. Average price per SF $1,076.53, or a whopping $141.61/SqFt less than the total market average!

This kind of result is why Realtors so often try to get the home sold fast. We can look for similarities between the slower selling homes compared to the faster ones, and sometimes pinpoint what market is selling best, perhaps by price or age of house. Maybe they are a little more remodeled or in a slightly better area? It would be a longer study to pick that apart, but it is worth noting the correlation between the speed of the sale and the list to sale price difference.

The sale price to list price ratio is all over the board when houses are viewed individually as opposed to by how fast they sell alone.

The Sunnyvale real estate market also varies by location (east of El Camino is generally not as desirable as west of it), school district (the portion with Cupertino schools is likely the strongest part of the market), and as mentioned above, price point. Being too close to train tracks, being in a flood plain, or other location issues will make it more challenging to sell.

Do you find this kind of info useful? If so, I’d love to hear from you – my email address is mary@popehandy.com. Please tell your friends, especially if they are interested in buying or selling residential property here!

The Real Estate Report numbers for Sunnyvale (entire city), single family  homes

Feel free to visit the same statistics, trends, and more at my ReReport page.

(If you’re viewing this on a mobile phone, swipe horizontally to see the full chart if it goes off the screen.)

Sunnyvale realty market statistics

Trends At a Glance Oct 2020 Previous Month Year-over-Year
Median Price $1,950,000 (-3.3%) $2,015,940 $1,675,000 (+16.4%)
Average Price $1,976,090 (-0.6%) $1,987,540 $1,699,330 (+16.3%)
No. of Sales 61 (+38.6%) 44 55 (+10.9%)
Pending 60 (+15.4%) 52 46 (+30.4%)
Active 56 (-6.7%) 60 44 (+27.3%)
Sale vs. List Price 105.7% (+1.0%) 104.6% 101.8% (+3.8%)
Days on Market 16 (+13.3%) 15 17 (-2.1%)
Days of Inventory 28 (-30.4%) 40 24 (+14.8%)

Sunnyvale is a clear seller’s market. October was hotter this year than in 2019, and it’s warmed up since last month. Prices fell a hair since last month and remain above a year ago. Active inventory shrank from September but remains above last year. Pending sales and closed sales all rose a good deal. The days on market show homes are selling extremely quickly with a 16 day average turnover! The sales vs list price ratio jumped again to 105.7%, hotter then last month and much hotter than last year. It is a hot seller’s market for Sunnyvale homes!

And from last month:

Trends At a Glance Sep 2020 Previous Month Year-over-Year
Median Price $2,015,940 (+9.0%) $1,850,000 $1,694,000 (+19.0%)
Average Price $1,987,540 (+4.2%) $1,908,000 $1,711,250 (+16.1%)
No. of Sales 44 (+2.3%) 43 32 (+37.5%)
Pending 54 (+17.4%) 46 40 (+35.0%)
Active 57 (+35.7%) 42 55 (+3.6%)
Sale vs. List Price 104.6% (+1.7%) 102.9% 99.5% (+5.1%)
Days on Market 15 (-21.8%) 19 27 (-45.9%)
Days of Inventory 38 (+28.2%) 29 50 (-24.6%)

(If this is too wide for a mobile device, you might try viewing the whole report this graph was taken from in PDF. Click to see the Real Estate Report for Santa Clara County updated monthly.) And here’s a view at a glance of how Sunnyvale compares to other towns or cities in Santa Clara County / Silicon Valley:

Santa Clara County SFH stats by city

As we can see in the chart above, Sunnyvale is priced right in the middle of the market across all cities within the county, it consistently has one of the highest sale to list price ratios. Sunnyvale showed a hot market in for the county this month.

Next up, the live data from Altos Research, updated weekly (uses LIST prices, not sale prices FYI)

Sunnyvale SFH Real-Time Market Profile

As of the latest update (November 6th) the chart shows that Sunnyvale is a strong seller’s market with climbing market action. Homes are listed from around $1-$2.5 million on average (and we know from earlier charts that this is usually the best selling range).

Want more info on the weekly trends and stats? You can view Altos data and analysis on Sunnyvale as a whole OR by zip code.

What about the Sunnyvale condo and townhome market?

The real estate market for the condominiums and townhouses in Sunnyvale is softening right now, much like the housing market.

The closed sales (as seen on the Sunnyvale RE Report for condos and townhomes) show that properties are selling close to list price in this segment of the market, but are not as hot as houses.

Sunnyvale Condo & Townhouse Market Trends at a Glance

Trends At a Glance Oct 2020 Previous Month Year-over-Year
Median Price $1,242,500 (+5.7%) $1,175,000 $1,065,000 (+16.7%)
Average Price $1,163,450 (+9.2%) $1,065,710 $1,108,610 (+4.9%)
No. of Sales 32 (+6.7%) 30 20 (+60.0%)
Pending 45 (+25.0%) 36 21 (+114.3%)
Active 50 (+4.2%) 48 61 (-18.0%)
Sale vs. List Price 101.5% (-0.1%) 101.5% 101.9% (-0.4%)
Days on Market 29 (+37.8%) 21 19 (+51.0%)
Days of Inventory 47 (+1.0%) 46 92 (-48.8%)

Sunnyvale condos are a little calmer than houses, with a smaller average overbid and longer days on market. Still, it’s a hot seller’s market.

And from last month:

Trends At a Glance Sep 2020 Previous Month Year-over-Year
Median Price $1,175,000 (-13.9%) $1,365,000 $1,322,500 (-11.2%)
Average Price $1,065,710 (-16.6%) $1,277,830 $1,168,020 (-8.8%)
No. of Sales 30 (+30.4%) 23 18 (+66.7%)
Pending 37 (+32.1%) 28 16 (+131.3%)
Active 48 (+4.3%) 46 54 (-11.1%)
Sale vs. List Price 101.5% (+1.2%) 100.3% 101.1% (+0.4%)
Days on Market 21 (-25.4%) 28 22 (-1.6%)
Days of Inventory 46 (-22.7%) 60 87 (-46.7%)

How does the housing market in Sunnyvale stack up compared to Cupertino, Mountain View, and other places?

(If this is too wide for a mobile device, you might try viewing the whole report this graph was taken from in PDF. Click to see the Real Estate Report for Santa Clara County updated monthly.)

Santa Clara County condo stats by city

Condos in Sunnyvale are regularly in the upper quarter for the median price in the county (this month they’re just above the middle) and they are in the top quartile for the sales vs list price ratio this month.

And finally, the live Altos Research info (updated automatically each week – using list prices, not sold prices)

Sunnyvale Condo and Townhouse Real-Time Market Profile

In the most recent update (as of writing, November 6th), Sunnyvale condos are in a continual, rising strong sellers market with stable inventory and some cooling with a slowly lengthening average days on market.

Use this link to see the Altos weekly report for condos and townhomes in the City of Sunnyvale, or navigate to your preferred zip code there or anywhere in the region. Like the info? Sign up to get it in your email box each week.

Sunnyvale, like the rest of Santa Clara County, has its own micro markets. The areas by 237 and 101 will be a different home selling or buying experience than those west of El Camino Real or along the Los Altos border. Want to buy or sell in Sunnyvale? Please call or email me to set up a time to meet or talk by phone (no obligation, no pressure – I dislike pushy people as much as you do).

Related Reading:

City of Santa Clara real estate market

Cupertino Real Estate Market Trends and Statistics

The Evergreen area of San Jose

Did you overpay for your house?

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


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